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EUR/USD stuck around 1.1360, Fedspeak eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The common currency keeps the negative tone at the end of the week, with EUR/USD meandering the 1.1360 area.

    EUR/USD focus on Fedspeak

    The pair has quickly faded the bullish attempt to daily tops around 1.1390 earlier in the session, returning to the current 1.1365/60 band against the backdrop of a risk-on environment.

    Ahead in the day, the greenback will take centre stage in light of speeches by NY Fed W.Dudley, Philadelphia Fed P.Harker and Dallas Fed R.Kaplan.

    EUR/USD levels to watch

    The pair is now losing 0.11% at 1.1366 and a break below 1.1325 (low Apr.6) would target 1.1291 (23.6% Fibo of 1.0820-1.1437) en route to 1.1276 (20-day sma). On the other hand, the next hurdle lines up at 1.1454 (2016 high Apr.7) ahead of 1.1496 (monthly high Oct.15 2015) and then 1.1713 (high Aug.24 2015).
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